Critical Illness Insurance is a type of insurance policy that provides a lump-sum payment if the policyholder is diagnosed with a serious illness covered by the plan. Common illnesses include heart attack, stroke, and certain types of cancer. This financial support can help cover medical expenses, lost income, or other costs during recovery. The coverage and terms of Critical Illness Insurance can vary between providers. It is important for individuals to carefully review the policy details, including the list of covered illnesses and any exclusions, to ensure it meets their specific needs and circumstances.